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Money, banking and financial markets

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The worldwide financial crisis of 2007-2009 was the most severe since that of the 1930s, and the recession it triggered was by far the most widespread and costly since the Great Depression. Around the world, it cost tens of millions of workers their jobs. In the United States, millions of families lost their homes and their wealth. In Europe, a subsequent crisis threatened a breakup of the European Monetary Union, home of the world's second most important currency. To stem these crises, governments and central banks took aggressive and, in many ways, unprecedented actions.

As a result, change will continue to sweep through the world of banking and finan¬cial markets for years to come. Some of the ways in which people borrowed—to buy a home or a car or to pay for college—have become difficult or unavailable. Some of the largest financial firms have failed, while others—even larger—have risen. In Europe, two governments defaulted, while others required support from neighboring countries to roll over their debt and that of their banks. Some financial markets have disappeared, but new institutions are surfacing that aim to make markets less vulnerable in the future. And governments everywhere are working on new rules to make future crises both less likely and less damaging.

Just as these crises are re-shaping the global financial system and government pol¬icy, they also are transforming the study of money and banking. Some old questions are surfacing with new intensity: Why do such costly crises occur? How can they be prevented? How can we limit their impact? How will these changes affect the financial opportunities and risks that people face?

Against this background, students who memorize the operational details of today's financial system are investing in a short-lived asset. Our purpose in writing this book is to focus on the basic functions served by the financial system while deemphasiz-ing its current structure and rules. Learning the economic rationale behind current financial tools, rules, and structures is much more valuable than concentrating on the tools, rales, and structures themselves. It is an approach designed to give students the lifelong ability to understand and evaluate whatever financial innovations and develop¬ments they may one day confront.

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

332 Cec m

Penerbit

New York : Mc Graw-Hill., 2015

Deskripsi Fisik

xl, 710 hal. : il. 26 cm.

Bahasa

English

ISBN/ISSN

9789814575164

Klasifikasi

332

Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

Ed. IV

Subjek

Ilmu Ekonomi
Uang, Bank dan Financial Market

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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